Data showed today that private U.S. businesses added a better-than-expected 241,000 jobs in December, bringing their annual hiring to 2.5 million for 2014, according to payrolls processor ADP. November’s private payrolls were also revised up to 227,000 from the prior report of 208,000. The ADP numbers precede the Labor Department’s non-farm payrolls report on Friday. Economists polled by Reuters are expecting U.S. employment to have grown by 240,000 jobs in December, down from 321,000 the month before, with the unemployment rate declining to 5.7% from 5.8%. Another report today showed the trade deficit narrowed more than forecast in November to $39 billion, the lowest level in eleven months.
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